Tax
Purchase and Sale of AIRbnb Properties Part 2
In Part 1 of our series on the purchase and sale of AIRbnb rental properties, we discussed different forms of taxation that may apply when buying or selling a short-term rental property. In Part 2, we will look at city...
Purchase and Sale of AIRbnb Properties Part 1
AIRbnb is a popular online marketplace for short-term rentals, homestays and vacation rentals primarily for tourism and short-term work/assignment purposes. The service is provided by a platform that is globally accessible on the Internet and via Mobile App. AIRbnb does...
The Federal Home Equity Capital Gains Tax
As federal and provincial government deficits skyrocket due to COVID-19 support payouts such as the CERB, governments at all levels will be searching for new revenue sources in the not-so-distant future to try and balance budgets. One way to accomplish...
Filing Clearance Certificates with CRA by Email
Clearance certificates confirm that the estate of the deceased, or a corporation, has paid all the tax, penalties, and interest it owed at the time the certificate was issued. The certificate allows the representative to then allocate assets without being...
Ontario First-Time Homebuyer Series Part 2: Homebuyers’ Plan
We at Merovitz Potechin understand that buying your first home is a major personal and financial milestone that requires careful consideration of all available options to facilitate the purchase process. To better understand what to expect along the way, this...
How to Deal with Carbon Pricing
The federal carbon pricing regime will soon apply in more provinces across the country than it does not. Surely not a scenario envisioned or desired by the federal government but nonetheless the regime is alive in Ontario and will start...
New Build Condo Closing Costs: Don’t Forget The Taxes
One way to help facilitate a smooth closing after you have purchased a condo is to budget for the closing costs. Every closing has specific expenses that relate to the purchase of the property, including applicable taxes and legal fees....
